Is Hiring A Credit Repair Company Worth The Money?

Shady services, which overcharge customers and make false promises, exist. This makes it a lot harder to differentiate between good companies and unscrupulous ones.

Even if you go to a legit credit repair company, not all bad credit is fixable. Unfortunately, if your credit report has some accurate but negative information on it, you cannot remove it legally.

The only instance in which a repair company can be beneficial to you is if you have genuine mistakes in your report.

When Can A Credit Repair Service Help?

A credit repair company cannot be of much help if your report is filled with negative information that is accurate.

However, if there are veritable errors on your report, this service will help you to navigate the system and aid in the removal of errors.

If you report your debt properly, you need to make a plan with your debt collection agency. How much time it takes to see results will vary depending on your credit history.

Some people start seeing changes in 1-2 months while others take longer to see anything positive. This means that you might have to remain in a program for 3-6 months to see any results.

DIY Credit Repair

Any service that a credit repair company charges you for, you can do for yourself at no cost. You should start by claiming your free yearly credit report. However, this usually takes energy and time – things that most business owners lack.

A credit repair company will save you the stress, time, and energy by filing disputes on your behalf and contacting your creditors and credit bureaus.

Moreover, they have the experience to know which items they should focus on and the ones to ignore. If you would rather handle your credit report yourself, you should get in touch with a non-profit credit-counseling firm.

Although they will not file disputes or negotiate on your behalf, such agencies will provide you with the necessary credit education resources.

Services Offered By Credit Repair Companies

The purpose of credit repair agencies is to analyze the credit history of a client and take the necessary action to increase his/her credit score. They achieve this by doing two things:

1. Analyzing credit reports and suggesting how your credit score can be improved. These recommendations usually include paying bills on time, paying down credit card debts, and not applying for any new loans.